Posted by paul on August 30, 2010 at 05:47:56 from (76.77.197.242):
In Reply to: Re: Advice posted by VADAVE on August 30, 2010 at 03:37:38:
Buying new equipment was the part that maybe made me think this won't be a paying enterprise.
For 60 acres he'll need good equipment for sure; but tractors at least, one can do much better buying good used. And balers as well, let someone else take the intital depreciation. Should this deal not work out in a couple years one can sell the good used equipment for not much overall loss. Buying new, and you are in the hole as you drive it off the lot.
I don't think he should buy old junk, that doesn't work either.
60 acres of hay plus custom work can sure make some money tho.
It was the 'new' to start with that I'm commenting on.
Sounds like he has more farm background than many as well. Some folks want to go into baling 60 acres of hay with their 8N and a NH 69 baler that they bought last year, and never actually saw a baler work.... Never really know the skill level of a person. :)
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